He posted documents he said showed that the initiative was linked to the Office of the Secretary to the Government of the Federation (OSGF).
Nwabueze, who describes himself as the National Coordinator and Executive Director of the project office, has continued to reject the ICPC’s allegation that the organisation was operating without government authorisation.
The documents shared by Nwabueze on LinkedIn include a purported appointment letter dated October 3, 2025, from the Office of the Permanent Secretary, Political and Economic Affairs Office of the OSGF, as well as an earlier letter dated July 19, 2010, which he presented as evidence that the Made-in-Nigeria initiative had existed for years.
PREMIUM TIMES could not independently verify the authenticity of the documents.
The development comes days after the ICPC said President Bola Tinubu ordered the immediate arrest of Nwabueze, whom the commission identified as the promoter of the alleged fake office.
The president also ordered the suspension of three permanent secretaries: M.S. Danjuma, Nadungu Gagare and Richard P. Pheelangwah, following the discovery of the office, according to the ICPC.
The Commission said the organisation had been allocated space within the OSGF premises without presidential authorisation and alleged that some senior public servants had collaborated with its activities.
Nwabueze’s appointment letter
In one of the documents posted by Nwabueze and reviewed by PREMIUM TIMES, on the letterhead of the Office of the Secretary to the Government of the Federation, conveyed what it described as the approval of his appointment as National Coordinator/Executive Director of the Made-in-Nigeria Project Office.
The letter, dated October 3, 2025, is referenced OSGF/MIN/59310/II/205 and addressed to “George Buchi Nwabueze, National Coordinator, Made in Nigeria Project Office, OSGF, Three Arms Zone, Abuja.”
It states that his appointment was for five years, beginning from July 2025, and was renewable.
The document says the appointment followed an assessment of Nwabueze’s “commitment, contribution, and capacity” to deliver the mandate of the Special Project Office.
It also lists his responsibilities as supervising programmes, projects, and policies; overseeing regional and state coordinators across the 36 states; and organising exhibitions, trade expos, economic summits, and other initiatives to promote indigenous products and services.
A second page of the document states that the project was to use temporary office space in Room B53, Ground Floor, within the OSGF complex “for the time being” to facilitate effective coordination.
It further states that the appointment was at the pleasure of the Secretary to the Government of the Federation and aligned with the objectives of the Made-in-Nigeria initiative under the Renewed Hope Agenda.
The letter bears the name and signature of Nadungu Gagare, identified as the Permanent Secretary of the Political and Economic Affairs Office.
The appointment letter is significant because the ICPC’s allegation centres partly on whether the project office had official authorisation to operate within the OSGF.
However, PREMIUM TIMES has not independently established the authenticity of the document.
Screenshots of the purported 2025 proposal seeking Special Project status for the Made-in-Nigeria initiative, posted by George Nwabueze on his LinkedIn profile.
Nwabueze traces the project to 2010
In another document shared on Sunday, Nwabueze sought to trace the initiative back to 2010.
The letter, dated July 19, 2010, is addressed to “Buchi George”, then described as Executive Director of The Hats Centre in Owerri, Imo State.
It acknowledges receipt of a proposal dated July 16, 2010, seeking endorsement for a “Made in Naija” project planned to take place in Ireland as part of activities marking Nigeria’s 50th anniversary.
The letter, referenced NIG@ 50/S.7/C,3/45, states that the proposal should be forwarded to the Nigerian High Commission in Ireland for possible consideration.
Nwabueze relied on the document to argue that the Made-in-Nigeria initiative predates the current controversy by more than a decade.
“History and facts, from Made in Naija since 15th June 2010 to the Made in Nigeria project office,” he wrote in a LinkedIn post accompanying the document.
He questioned how a programme he claimed had existed for 16 years could suddenly be described as a fictitious government body.
PREMIUM TIMES could not independently confirm the authenticity or present status of the 2010 letter.
Nwabueze had also earlier posted another document dated April 17, 2025, proposing to grant the Made-in-Nigeria initiative the status of a special project.
The document was signed by Gagare and addressed to the Secretary to the Government of the Federation.
It said the initiative had been promoting Nigerian products and services locally and internationally and had organised economic forums and trade exhibitions.
Screenshot of the 2010 letter purportedly issued by the Office of the Secretary to the Government of the Federation and posted by George Nwabueze on his LinkedIn profile, concerning the endorsement of a “Made in Naija” project.
It also listed potential benefits of granting the project special status, including job creation, economic growth, poverty reduction, increased domestic production, and reduced dependence on imported goods.
However, the document revealed that the project’s activities would undergo review, along with an examination of its operational modalities, to ensure clarity and effectiveness.
That detail leaves an important question over the precise administrative status of the initiative at the time Nwabueze was appointed.
Government engagements under scrutiny
Nwabueze’s defence comes against the backdrop of records showing that the organisation had established contacts with government institutions before the ICPC’s disclosure.
As PREMIUM TIMES previously reported, government records showed engagements involving the project in Abia and Anambra.
The organisation had also presented itself on its website as a strategic initiative of the OSGF, with a national coordinator, zonal directors, state coordinators and representatives in the United States and China.
Its website described the project as responsible for promoting Nigerian products, supporting small and medium enterprises, attracting investment, and organising trade fairs and economic forums.
The website also identified Nwabueze as its National Coordinator and Executive Director.
Those claims became significant after the ICPC said the office was operating without presidential authorisation.
The controversy, therefore, goes beyond whether Nwabueze was appointed to a position bearing the name of a Made-in-Nigeria project.
It raises questions about the legal and administrative status of the office, who authorised its activities, how it secured space within the OSGF premises and the extent to which public officials interacted with it.
Lingering Concerns
Nwabueze’s documents provide his account of the organisation’s history and his relationship with the OSGF, but they have not settled the dispute over its status.
The ICPC has maintained that the office was one of the fictitious government structures uncovered during its investigation into the alleged Presidential Foreign Intervention Promotion Council.
The commission said Nwabueze was the promoter of the organisation and alleged that it operated with the backing of some public servants.
Nwabueze, however, has rejected the description and insists that the organisation is a project office under the OSGF.
The conflicting accounts now place greater importance on the outcome of the ICPC investigation.
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Nigerian stocksslightly depreciated last week, sliding by 0.5 per cent as sell pressure on bank equities weighed on the main stock index.
All but the insurance index dropped out of the five sector indexes tracked by the Nigerian Exchange.
“Investor positioning ahead of Q3:2026 earnings should provide additional support, particularly as expectations build around the Tier-1 banks’ results,” analysts at Meristem Securities said in a note to investors ahead of the week.
“The ongoing impact of Nigeria’s FTSE Russell reclassification should also keep trading activity elevated and sustain interest in eligible large-cap stocks,” they added.
The release of companies’ Q3 earnings reports is expected to begin soon.
PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.
The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.
Zenith tops this week’s list for its strong fundamentals and for trading below its intrinsic value. The net profit ratio (NPR) of the lender is 21.8, while the price-to-earnings (PE) ratio is 5.3x. Its 14-day relative strength index (RSI) is 68.
Fidson Healthcare
Fidson appears on the pick on the basis of its attractive fundamentals. The NPR of the pharmaceutical company is 7.8, while the PE ratio is 18.8x. The 14-day RSI is 51.2.
NEM Insurance
NEM makes the selection for its strong fundamentals and for trading below its intrinsic value. The insurer’s NPR is 15.7, while the PE ratio is 5.6x. Its 14-day RSI is 43.2.
Stanbic IBTC Holdings
Stanbic IBTC makes the cut for its sound fundamentals. The NPR of the banking group is 34.5, while PE ratio is 5.9x. The 14-day RSI is 69.5.
Aradel Holdings
Aradel makes the cut for its sound fundamentals. The NPR of the energy company is 28.4, while the PE ratio is 8.7x. The RSI is 50.8.
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About 28 insurance and pension regulators and operators have backed the upcoming 11th edition of the Nigerian Association of Insurance and Pension Editors (NAIPE) Annual Conference, scheduled to hold in Lagos.
This is even as the timing of the event scheduled to hold on Thursday, October 8, 2026, at Oriental Hotel, Victoria Island, Lagos, has been shifted from 9:00am to 12:00pm same day.
This is to allow Insurance operators, who will be attending Insurers Committee meeting earlier that day, conclude their meeting and attend the conference.
The national conference with a focus on the emerging market dynamics in Nigeria’s insurance and pension sectors, follows the just concluded recapitalisation exercise in the insurance sector and ongoing exercise in the pension industry.
Themed: “Post-Recapitalisation and Market Dynamics in Insurance & Pension Sectors,” the Chief Executive Officer of United Capital Asset Management Limited, Dr. Odiri Oginni, will deliver the keynote address, focusing on the insurance perspective while Mr. Oguche Aguda,
Founder and Managing Partner of HRISP Partners, will equally deliver a paper on the theme, focusing on the pension perspective.
The Group Managing Director of Custodian Investment Plc, Mr. Wole Oshin, will chair the event.
According to NAIPE, the conference is coming at a critical period for the two sectors, as insurance operators have just concluded their recapitalisation exercise, while pension operators are expected to conclude theirs in 2027.
The high level discourse will therefore examine how funds raised through recapitalisation can be strategically invested and deployed to generate stronger returns, deepen market confidence and improve service delivery to shareholders and policyholders.
Expected dignitaries include the Commissioner for Insurance & Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin; Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran; chief executives of insurance companies, broking firms, investment and securities companies and Pension Fund Administrators (PFAs), as well as regulators, labour unions, students and other stakeholders.
Speaking ahead of the conference, Chairperson of NAIPE, Mrs. Ebere Nwoji said, the annual gathering provides a platform for insurance and pension journalists to contribute to the development of both sectors by promoting greater public understanding of insurance and pension as instruments for financial security and protection against old-age poverty.
Nwoji expressed appreciation to operators and regulators in the two sectors for their continued support for the conference, stressing that, the benefits derived from the annual event outweigh the resources committed to organising it.
She described this year’s theme as timely, given the significant structural changes taking place in the insurance and pension industries through recapitalisation.
She noted that, the insurance industry concluded its recapitalisation exercise on July 31, 2026, while the pension industry is currently undergoing a similar process expected to be completed next year.
The NAIPE chairperson, particularly, commended the leadership of NAICOM for successfully concluding the insurance industry’s recapitalisation exercise, describing it as a major achievement for Omosehin.
According to her, the Commissioner ‘took the bull by the horns’ in breaking what she described as the longstanding cycle of inconclusive recapitalisation exercises in the insurance industry.
She also expressed optimism that the pension industry, under the leadership of Ms. Omolola Oloworaran, would achieve a seamless and successful recapitalisation exercise.
“The conference would provide operators with an opportunity to gain insights into prudent and judicious investment of the capital raised through the recapitalisation process.
“I am confident that speakers at the event would provide practical perspectives on how insurance and pension operators can deploy their strengthened capital bases to deliver superior investment returns while enhancing value for investors, shareholders and policyholders” she affirmed.
Meanwhile, NAICOM, PenCom, SanlamAllianz, Veritas Kapital and 24 others have offered their support and partnership towards the conference.